Spotlight

Indian markets are likely to remain range-bound and volatile, as investors assess global monetary policy cues alongside persistent macroeconomic and geopolitical uncertainties. The US Federal Reserve held interest rates steady at 3.75%–4.00%, with market participants now focusing on the Fed’s policy commentary and its implications for global liquidity and risk appetite.  

Crude oil remains a key headwind for domestic markets, with WTI trading around $102 a barrel, keeping macroeconomic concerns in focus. Geopolitical tensions also remain elevated, with little evidence of diplomatic progress towards de-escalation, adding to uncertainty over the near-term outlook.  

Meanwhile, Asian markets traded higher in early deals, with both the Nikkei 225 and South Korea’s KOSPI gaining over 0.5%. Despite these positive regional cues, elevated crude prices and ongoing geopolitical uncertainties are likely to limit the scope for a sustained upward move in domestic markets.

Technical View

Nifty 50

Nifty 50 continues to face resistance around the crucial 22,800 level, which remains a key hurdle for further recovery. A decisive breakout followed by sustained trading above this level could strengthen the near-term momentum and pave the way for an upward move towards 23,000. However, failure to reclaim this resistance could keep the index confined to a range-bound structure.
 
On the downside, 22,500 represents the immediate support zone. A decisive breakdown below this level could intensify selling pressure and expose the index to further downside. Overall, the near-term outlook remains cautious, with sustained buying above 22,800 essential to reinforce recovery momentum and improve the broader technical setup.

Bank Nifty

Bank Nifty continues to trade below its key daily moving averages, suggesting that the broader technical structure remains weak. The 54,400–54,600 range represents the immediate resistance zone. A sustained breakout above 54,600 could strengthen recovery momentum and pave the way for an upward move towards 55,000–55,200.
 
On the downside, 54,000–53,800 forms a crucial support zone, followed by 53,500. A decisive breakdown below the immediate support range could trigger renewed selling pressure and expose the index to further downside. Overall, the near-term outlook remains cautious, with a sustained move above 54,600 required to improve the technical structure and signal a stronger recovery.